Audit Analytics recently released a new report, Impacts of COVID-19 on Public Companies. Leveraging extensive databases, this report provides an in-depth look at the pandemic’s impacts on certain aspects of financial reporting and financial health metrics of public companies. This includes late filings, controls, going concerns and impairments. As discussed in the report, these particular changes, executed rapidly and without precedent, heighten the risk for misstatements; depending on severity, there is the potential for material impacts.
In this article, Audit Analytics further examines the late filing trends and impact of SEC relief during the global pandemic.